Now hold on. The first “Fabulous Fab” email we read was entirely different from the one the Senate just released.
The SEC released this section of The Fabulous Fab Email a couple of weeks ago:
It’s painfully obvious the SEC was desperate. They completely changed the meaning of Tourre’s email. Let’s compare.
“More and more leverage in the system…” (This is Tourre’s interpretation of an FT article, which is about there being more leverage in the system. Tourre was referring to Gillian Tett’s article, “The unease bubbling in today’s brave new financial world,” which he attached in the email and recommended that his girlfriend read it. Here’s the article on Roubini’s blog.)
“The only potential survivor, the Fabulous Fab…” (after which, Tourre writes, “as Mitch would kindly call me, even though there is nothing fabulous about me, just kindness, altruism and” – we’ll cut the mushy stuff.)
Seriously, SEC? Tourre’s email is wildly different from how the SEC first portrayed it. This makes their case look even weaker. Embarrassing.
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